The sector people came up with the remarks while addressing a discussion on “Preparedness of Bangladesh pharmaceutical industry for the future potentials and challenges”.
The discussion was a part of Samson H Chowdhury Memorial Conference 2017 held in the capital on Saturday which focused on the prospect and problems of Bangladesh’s pharmaceutical sector.
“We have already a strong base in domestic market. We need to have presence in global markets, but the government policy is not in favour of the industry,” said Tapan Chowdhury, managing director of Square Pharmaceuticals Limited.
According to Bangladesh Association of Pharmaceutical Industries (BAPI), Bangladesh meets 97% of local demands domestically. Of the total demands, 87% are met by local companies while 13% by the multinational companies.
Tapan urged the government to allow the sector people to pay foreign bills for business expansion from their export retention.
“There is huge potential for export and the target should be on generic products, but the most important thing is human resources, which we are lack in,” said Salman F Rahman, vice-chairman of Beximco Group.
“The basic ingredient of Bangladesh’s success in pharmaceutical industry is white colour professionals. We enjoy low-cost professionals,” said Salman.
It is high time that the academicians designed the course based on the industry needs, he added.
“The sector people have to be innovative and focus should be on formulation of generic products having a market worth $112 billion,” said Abdul Muktadir, chairman and managing director of Incepta Pharmaceutical.
For boosting the export, he suggested promotion of products through agents and marketing in the global markets.
In July-January period of the current fiscal year, Bangladesh earned $52.64 million, which is 8.5% higher compared to $48.50 million in the same period a year ago.